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Former federal prosecutor analyzes Petters verdict

Prosecutors say Minnesota businessman Tom Petters could spend the rest of his life in prison, after a jury found him guilty of running a $3.5 billion Ponzi scheme.

Petters claims his employees cheated investors and falsified documents for more than a decade without his knowledge. His attorneys say they will appeal his conviction on 20 counts of fraud and conspiracy.

Hank Shea is a former federal prosecutor. He specialized in white collar crime during most of this twenty years in the Minnesota U.S. Attorney's office. He's now a professor at the University of St. Thomas School of Law and joined Cathy Wurzer by phone.